1. The sale of the properties is on an "AS-IS, WHERE-IS" basis.
   Prospective bidders are advised to inspect the properties to determine their condition and check the titles as there are properties that have any or all of the following characteristics:
   (a) have illegal occupant/s,
   (b) titles still in the names of the previous owners and for transfer in the name of Home Guaranty Corporation (HGC), and
   (c) titles with liens and encumbrances or with annotation of “lis pendens”.
   
   
2. Bid documents can be secured from the HGC’s Asset Management and Disposition Group (AMDG), located at the 4th Floor, Jade Building, 335 Sen. Gil Puyat Avenue, Makati City or downloaded from the HGC website at www.hgc.gov.ph.
   
   
3. A bid security shall be paid in cash or manager's check at the HGC Cashier’s Office located at the 2nd Floor Jade Building. Prior to paying, the prospective bidder shall secure a Payment Acceptance Order from the AMDG. The amount of bid security shall be based on the corresponding percentage of the selling price of the property, as follows:
   
   

   SELLING PRICE (SP)	BID SECURITY
   Up to Php 3.0M	5% of the SP
   Over Php 3.0M	10% of the SP

   
   

   A copy of the HGC Official Receipt shall be included in the bid proposal to be dropped at the bid box referred to in item no. 5. The bid securities of disapproved purchase proposals shall be refunded immediately upon award of the property to the winning bidder. Bid security paid by the winning bidder shall form part of the required downpayment for the sale.

4. Terms of Payment
   Properties under Category A can be paid either through outright cash, from proceeds of financing by bank/financial institution, or through installment. Properties under Category B can also be paid through outright cash, from proceeds of financing by bank/financial institution, through installment, or can be subject of lease under HGC’s Rent-to-Own Program.

   4.1. Outright Cash

   1. The highest ranked cash bidder shall be required to submit a bank guaranty or its equivalent within fifteen (15) days from receipt of notice. Failure to submit the same shall disqualify him/her from award of sale of the property. In which case, the property shall be offered to the next ranked cash bidder who shall also be required to submit a bank guaranty or its equivalent. The same process is repeated until the property is awarded to the successful bidder.
   2. The winning bidder shall be required to remit full payment for the selling price of the property within five (5) days from receipt of Notice of Award of Sale.

   4.2 Proceeds of Financing by Bank/Financial Institution

   1. A downpayment equivalent to 10% of the bid price shall be required from the winning bidder to be paid within five (5) working days from receipt of Notice of Award of Sale.
   2. While awaiting release of the loan proceeds, the winning bidder shall execute a Contract to Sell with a term of ten (10) years with HGC. The winning bidder shall pay the required monthly amortization until the proceeds of the loan is remitted to HGC.
   3. The winning bidder shall be required to submit a Letter of Guaranty (LOG)/Notice of Loan Approval (NLOA) issued by a bank/financial institution within two (2) months from the execution of the CTS. The winning bidder shall remit the take-out proceeds covering full payment of the property within six (6) months from the execution of CTS.
   4. The authority to move in/occupy the property shall only be issued to the winning bidder upon submission of the LOG/NLOA.

   4.3 Installment Scheme

   Applicable only to properties that have any or all of the following characteristics:
   (a) have illegal occupant/s,
   (b) titles still in the names of the previous owners and for transfer in the name of HGC, and
   (c) titles with liens and encumbrances or with annotation of “lis pendens”.

   4.3.1 HGC In-house Financing

   • Minimum downpayment: 10% of the bid price
   • Balance shall be payable within a maximum period of 15 years, provided that the age of the bidder does not exceed 70 at the end of the contract term. The following interest rates shall apply:

   SELLING PRICE (SP)	Interest Rate/annum (if paid on or before due date)	Interest Rate/annum (if paid after due date)
   Up to Php 400,000.00	5%	6%
   Php 400,001.00 to Php 2.0 M	8%	9%
   More than Php 2.0 M	11%	12%

   4.3.2 One-Year Installment Scheme

   • Minimum downpayment: 10% of the bid price
   • Balance shall be payable within a period of one year in equal monthly installment at zero percent (0%) interest.

   4.4. Rent-to-Own Program – applicable only to properties under Category B

   • Minimum monthly lease rate: Prevailing rental rates within the vicinity as recommended by the HGC commissioned appraiser.
   • Term of Lease: Maximum period of five (5) years
   • Lease rate is subject to a 10% annual escalation
   • Initial cash out: 1 month advance and 2 months deposit (based on the monthly lease rate)
   • The Lessee may exercise his/her option to purchase the property within the 5-year term by paying for the property in cash based on the published selling price.
   • Portion of payments made by the Lessee during the term of the lease shall be applied as partial payment of the selling price of the property, as follows:

   YEAR	PERCENTAGE OF APPLICATION
   1	100%
   2	90%
   3	80%
   4	70%
   5	60%

5. Bid proposals shall be dropped at the designated bid box located at the AMDG office.
   
   
6. The award of sale of the property shall be based on the offer deemed to be most advantageous to the Corporation.

For inquiries, please call the AMDG at telephone numbers 897-32-90 & 897-32-31 or visit the HGC office at the 4th Floor, Jade Building, 335 Sen. Gil Puyat Avenue, Makati City. The list of the properties may also be viewed at the HGC website, www.hgc.gov.ph and www.bbbprogram.com.

THE CORPORATION RESERVES THE RIGHT TO REJECT ANY OR ALL BIDS OR TO ACCEPT SUCH BIDS AS MAY BE CONSIDERED MOST ADVANTAGEOUS TO THE CORPORATION.